Nepal, March 21 -- For the first time in decades, Nepal has a stable government. It boasts a thumping two-thirds majority too. With that kind of strength, it could do anything. From ushering in new and innovative policies to bringing about changes in governance like never before. But instead of utilising that majority to do something good, it looks like this government too, like its predecessors, is guided by parochial interests only.

Recently, the government tabled the Foreign Investment and Technology Transfer Act in Parliament that would allow foreign investment in small and cottage industries too. Foreign investment is welcome in that it is an important source of external finance. Developing countries like ours could especially benef...